sec.16Dealing with amount on receipt

### sec.16 Dealing with amount on receipt An agent must, before the end of the first business day after receiving the amount— pay it to the agent’s general trust account; or A licensee who collects an amount of rent for a property owner must pay the amount to the licensee’s general trust account before the money can be paid from the account under section 22 . if section 17 (1) applies, invest it under section 17 (2) . Maximum penalty—200 penalty units or 2 years imprisonment. - (a) pay it to the agent’s general trust account; or Example— A licensee who collects an amount of rent for a property owner must pay the amount to the licensee’s general trust account before the money can be paid from the account under section 22 . - (b) if section 17 (1) applies, invest it under section 17 (2) .